88 Bruce Wike Ln · Murphy, NC 28902

$147,200

3 bd · 1.0 ba · 1,559 sqft · SingleFamily public records · 214 Days on market

Built 1985 1.06 ac lot Est $151k · at est.

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +8.7/15.0
• Appreciation +7.2/10.0
• DSCR +4.6/10.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Private Mountain Home!! Close to all the amenities offered in the beautiful Western NC mountains. Lakes, fishing, hiking and Harrahs Cherokee Casino in Murphy, NC. This property will be sold at auction and can be found at the following link: https://www. hubzu.com/property/94514418834-88-BRUCE-WIKE-LANE--Brasstown-NC-28902

Key facts

• 1.06 acre lot
• Built 1985
• Listed 214 days

Property features AI

Finance

• HOA & community: Association fee billed annually

Exterior

• Parking: Carport; Open parking (gravel/dirt)
• Utilities: Private water supply; Septic tank
• Home design: One-level living area with additional finished lower level; Residential property, resale condition; Built in 1985
• Construction: Frame construction with wood siding; Shingle roof; Finished full basement
• Exterior features: Private yard; Deck (open); Storm windows; Insulated windows; Gravel and dirt road access; Rolling topography; Has a view

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: 1 bedroom on the main level; 2 bedrooms on the lower level (basement)
• Flooring: Wood flooring; Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Ceiling fans; Wood-burning fireplace; Finished full basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $147k.

Deal economics

• At list price, monthly cash flow is $45 ($542/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (18.7% below list).
• Recommended offer: $120k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.6% in Murphy — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#292 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety C-, schools D+, amenities F.
• Clay County Schools (rural): math 47% / reading 50% proficiency, ranked #73 of 178 in NC (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 83 active listings in the ZIP; 143 units permitted in Clay County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.5% local appreciation)).
• Clay County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $33k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,659 (18.7% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $151,223
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1887 Green Cove Rd	0.36mi	3/2.0	1,440 (-8%)	21mo	$140,000	$97	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.79×
• Total profit: $32,413
• Equity at exit: $78,800

10-year hold

• IRR: 13.8%
• Equity multiple: 3.37×
• Total profit: $97,599
• Equity at exit: $132,325

Cash invested: $41,216 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28902

• Home prices YoY: 1.4%
• Active inventory: 83
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,197 medium
• Mortgage (P&I): −$772
• Tax from tax record: −$67 /mo · $802/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $45

Break-even live

Break-even rent $1,139

Max offer price $147,200

Occupancy floor 91%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,800
• Closing costs: $4,416
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $147,200 Active 214 DOM
2. 2026-06-17
   days on market $147,200 Active 213 DOM
3. 2026-06-16
   days on market $147,200 Active 212 DOM
4. 2026-06-15
   days on market $147,200 Active 211 DOM
5. 2026-06-14
   days on market $147,200 Active 209 DOM
6. 2026-06-13
   days on market $147,200 Active 208 DOM
7. 2026-06-10
   pricedays on market $147,200 Active 206 DOM
8. 2026-06-09
   days on market $160,000 Active 205 DOM
9. 2026-06-08
   days on market $160,000 Active 204 DOM
10. 2026-06-07
    days on market $160,000 Active 203 DOM
11. 2026-06-03
    days on market $160,000 Active 199 DOM
12. 2026-06-02
    days on market $160,000 Active 198 DOM
13. 2026-06-01
    days on market $160,000 Active 197 DOM
14. 2026-05-31
    days on market $160,000 Active 196 DOM
15. 2026-05-31
    days on market $160,000 Active 195 DOM
16. 2026-04-24
    status Active
17. 2026-04-24
    price $160,000
18. 2026-04-14
    price $160,000 324-char remark

    Show marketing remark (324 chars)

    Private Mountain Home!! Close to all the amenities offered in the beautiful Western NC mountains. Lakes, fishing, hiking and Harrahs Cherokee Casino in Murphy, NC. This property will be sold at auction and can be found at the following link: https://www. hubzu.com/property/94514418834-88-BRUCE-WIKE-LANE--Brasstown-NC-28902

19. 2026-03-17
    status Active Under Contract 324-char remark

    Show marketing remark (324 chars)

    Private Mountain Home!! Close to all the amenities offered in the beautiful Western NC mountains. Lakes, fishing, hiking and Harrahs Cherokee Casino in Murphy, NC. This property will be sold at auction and can be found at the following link: https://www. hubzu.com/property/94514418834-88-BRUCE-WIKE-LANE--Brasstown-NC-28902

20. 2026-03-06
    status Pending
21. 2026-03-06
    status Active
22. 2026-02-03
    price $170,905 324-char remark

    Show marketing remark (324 chars)

    Private Mountain Home!! Close to all the amenities offered in the beautiful Western NC mountains. Lakes, fishing, hiking and Harrahs Cherokee Casino in Murphy, NC. This property will be sold at auction and can be found at the following link: https://www. hubzu.com/property/94514418834-88-BRUCE-WIKE-LANE--Brasstown-NC-28902

23. 2026-02-03
    price $170,905

    Show marketing remark (324 chars)

    Private Mountain Home!! Close to all the amenities offered in the beautiful Western NC mountains. Lakes, fishing, hiking and Harrahs Cherokee Casino in Murphy, NC. This property will be sold at auction and can be found at the following link: https://www. hubzu.com/property/94514418834-88-BRUCE-WIKE-LANE--Brasstown-NC-28902

24. 2026-01-02
    price $179,900
25. 2025-12-01
    price $195,000
26. 2025-10-30
    price $215,000
27. 2025-09-24
    listed $228,800 Active

    Show marketing remark (324 chars)

    Private Mountain Home!! Close to all the amenities offered in the beautiful Western NC mountains. Lakes, fishing, hiking and Harrahs Cherokee Casino in Murphy, NC. This property will be sold at auction and can be found at the following link: https://www. hubzu.com/property/94514418834-88-BRUCE-WIKE-LANE--Brasstown-NC-28902

28. 2025-09-24
    listed $179,900 Active 324-char remark

    Show marketing remark (324 chars)

    Private Mountain Home!! Close to all the amenities offered in the beautiful Western NC mountains. Lakes, fishing, hiking and Harrahs Cherokee Casino in Murphy, NC. This property will be sold at auction and can be found at the following link: https://www. hubzu.com/property/94514418834-88-BRUCE-WIKE-LANE--Brasstown-NC-28902

29. 2005-06-09
    soldstatus $142,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $802 · $67/mo
• Projected year-2 tax: $1,207 · $101/mo
• Expected delta: +$405/yr (+$34/mo · 50.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,359
• − Mortgage interest: −$8,245
• − Property taxes: −$802
• − Insurance: −$736
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − Depreciation: −$4,282
• Taxable loss: −$2,004
• Est. tax savings @ 24.0%: +$481
• After-tax cash flow: $1,023/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Clay County Schools
• NCES district ID: 3700870
• Math proficiency: 47% ▲ 5.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $37,205
• Composite: 40.31/100
• National rank: #3751
• State rank: #73 of 178 in NC

Livability — Murphy

• Score: 66/100
• State rank: #292
• US rank: #12327

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing C Health & safety C- User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 966

Population outlook (Clay County) Hauer SSP2

• Today (2025): 10,855 people
• By 2030: 10,820 · -0.3%
• By 2040: 10,527 · -3.0%
• By 2050: 10,099 · -7.0%
• By 2075: 9,094 · -16.2%
• By 2100: 7,834 · -27.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 5% Two or more races 5% Asian 5% Hispanic / Latino 4%
• Common ancestry: Serbian 5% Scotch-Irish 2% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Spanish 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+50.1) · D 24.6% · R 74.7%
• 2008→2024 swing: -14.5pp toward R · 2008: -35.6pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+49.5 2016: R+51.7 2012: R+42.5 2008: R+35.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.48%
• Current HPI: 331.6715
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+12.3% since first listed

14 events — show timeline

• 2026-04-24 Relisted — NEGBOR
• 2026-04-24 Price Changed $160,000 NEGBOR
• 2026-04-14 Price Changed $160,000 CSAOR
• 2026-03-17 Relisted — CSAOR
• 2026-03-06 Pending — NEGBOR
• 2026-03-06 Relisted — NEGBOR
• 2026-02-03 Price Changed $170,905 CSAOR
• 2026-02-03 Price Changed $170,905 NEGBOR
• 2026-01-02 Price Changed $179,900 NEGBOR
• 2025-12-01 Price Changed $195,000 NEGBOR
• 2025-10-30 Price Changed $215,000 NEGBOR
• 2025-09-24 Listed $179,900 CSAOR
• 2025-09-24 Listed $228,800 NEGBOR
• 2005-06-09 Sold (Public Records) $142,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $802 · +14.2% YoY. Source: county tax records.